Amazon Analyst Coverage Update
Today’s analysts’ updated ratings and target price changes for Amazon’s stock after its earnings report:
Morningstar:
Rating: Hold
Previous Target: USD 185
Date of Update: 02/02/2024
Commentary: Morningstar maintains a “Hold” rating on Amazon’s stock, suggesting a neutral stance. No target price change was mentioned in the provided information.
Monness, Crespi, Hardt & Co.:
Rating: Buy
Previous Target: USD 170
New Target: USD 215
Date of Update: 02/02/2024
Commentary: Monness, Crespi, Hardt & Co. upgrades its rating on Amazon from “Buy” with a previous target of USD 170 to a new target of USD 215, indicating a positive outlook on the stock’s future performance.
Telsey Advisory Group:
Rating: Outperform
Previous Target: USD 185
New Target: USD 200
Date of Update: 02/02/2024
Commentary: Telsey Advisory Group maintains an “Outperform” rating on Amazon. The target price is raised from USD 185 to USD 200, signaling confidence in the company’s ability to outperform the market.
J.P. Morgan Chase & Co.:
Rating: Overweight
Previous Target: USD 190
New Target: USD 225
Date of Update: 02/02/2024
Commentary: J.P. Morgan Chase & Co. reiterates its “Overweight” rating on Amazon and raises the target price from USD 190 to USD 225, reflecting a positive stance on the stock’s potential for growth.
Needham & Company:
Rating: Buy
Previous Target: USD 175
New Target: USD 205
Date of Update: 02/02/2024
Commentary: Needham & Company updates its rating to “Buy” and increases the target price from USD 175 to USD 205, indicating a favorable view on Amazon’s stock and its expected performance.
Barclays:
Rating: Overweight
Previous Target: USD 190
New Target: USD 220
Date of Update: 02/02/2024
Commentary: Barclays maintains an “Overweight” rating on Amazon and raises the target price from USD 190 to USD 220. This suggests Barclays is optimistic about the stock’s potential to outperform market expectations.
Amazon Stock Forecast
Average Analyst Target Price:
- Value: USD 177.09
- Timeframe: Over the next 12 months
- Source: Based on forecasts from 39 analysts
- Commentary: The consensus among 39 analysts points towards an optimistic outlook for Amazon’s stock. The average target price of USD 177.09 suggests an expectation of growth in the stock value over the next year. This figure is an important indicator for investors, reflecting the collective sentiment of market experts.
Average Analyst Rating:
- Rating: Strong Buy
- Source: Based on the assessments of 39 analysts
- Commentary: The collective opinion of 39 analysts is overwhelmingly positive, as evidenced by the “Strong Buy” rating. This rating indicates a consensus among financial experts that Amazon.com Inc’s stock is anticipated to perform exceptionally well. Analysts likely consider various factors such as the company’s financial performance, prevailing market trends, and growth prospects in assigning this rating.
Stock Target Advisor’s Analysis:
- Analysis: Neutral
- Signals: 7 positive signals, 6 negative signals
- Commentary: Stock Target Advisor adopts a balanced approach in its analysis, considering both positive and negative signals. The “Neutral” stance suggests that while there are favorable aspects supporting the stock, there are also concerns that might impact its performance. Investors should pay attention to the specific signals identified by Stock Target Advisor for a nuanced understanding of the stock’s potential.
Recent Stock Performance:
- Last Closing Price: USD 159.28
- Price Change:
- Past Week: +0.97%
- Past Month: +4.83%
- Last Year: +51.48%
- Commentary: Amazon.com Inc’s recent stock performance reflects positive trends, with increases observed over various timeframes. The remarkable 51.48% growth over the last year showcases the stock’s robust performance and underscores its appeal to investors.
Conclusion:
In conclusion, the analysis of Amazon.com Inc’s stock paints a generally positive picture. The average analyst target price and “Strong Buy” rating reflect confidence and optimism among financial experts. However, the neutral analysis by Stock Target Advisor reminds investors to consider both positive and negative signals, ensuring a well-rounded understanding of the stock’s potential. The recent positive stock performance further bolsters market confidence in Amazon.com Inc’s prospects, making it an intriguing player for investors navigating the dynamic landscape of the stock market.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
